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Federal National Payables Provided Eight FacilitiesBethesda, MD. Federal National closed eight accounts receivable lines during the first quarter of 2010, totaling $4 million. The deals include a $1.5 million line for a provider of decision support and engineering services to the department of defense, a $200 thousand line for a temporary staffing firm, a $200 thousand line for an information technology company, and an $800 thousand line for a program and business support services firm. The four facilities satisfy the companies’ indebtedness to their banks and provide the firms with working capital for their expected growth. Federal National additionally provided a $1 million working capital facility for a software and service provider for adult learning and a $150 thousand line for a health care consulting firm to fund new growth opportunities. Finally, Federal National provided a $100 thousand line for an information technology solutions provider and a $100 thousand line for a start-up government contractor to give the companies working capital. Federal National Payables, founded in 1992, provides accounts receivable financing to help small- and mid-sized companies meet their short term working capital requirements. Other Press ReleasesFederal National Payables Provided Two Working Capital Facilities, June 2010 Federal National Provided $2 Million Working Capital Line, May 2010 Federal National Payables Funds Five Facilities, January 2010 Federal National Payables Funds Three Facilities, November 2009 Federal National Payables Funds Three Facilities Totaling $1.85 Million, September 2009 Federal National Payables Funds Facilities Totaling $6.4 Million, July 2009 Federal National Payables Funds Two Facilities, May 2009 Federal National Payables Provided Six Facilities, December 2008 Federal National Payables Hires Senior Vice President, Region Manager, October 2008 |
